CNBC host Jim Cramer responded to Monday's stock market crash by saying that people who care about their personal finances “should support Trump.”
Dow Jones Industrial Average Closed The S&P 500 fell 2.6% on Monday. Dropped Up 3%, the Nasdaq fell The stock rose 3.43% on fears of a recession following Friday's disappointing jobs report. Cramer and co-host David Faber discussed the reported hiring of attorney Tony West. Executive Cramer, an Uber executive, spoke to Kamala Harris' team about what people worried about their economic future in the upcoming presidential election should do. (Related article: “We've never had a 1,000-point drop”: Fox Business host stunned by Wall Street sell-off)
“I know Tony, he's a businessman I would say. There weren't any business people that were really close with Biden, except for Gina Raimondo, so this is a nice change of pace,” Cramer said. “Harris has a lot of business people around her. If you're in the stock market and you care about your paycheck, if you do, you'd pick Trump.”
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Cramer on CNBC: “If you care about your pay, you should vote for Trump”pic.twitter.com/gMg53zH2ZR
— Daily Caller (@DailyCaller) August 5, 2024
“Really?” Faber asked. Cramer replied, “He wants to pay less taxes.”
Faber disputed Cramer's statement that Trump would cut taxes.
“As you know, my taxes increased significantly under the former Trump administration,” Faber argued.
“No, he wants to cut taxes,” Cramer replied.
President Trump signed a $1.5 trillion tax cut bill that cut the corporate tax rate to 21%, doubled the child tax credit to $2,000, and also cut personal tax rates.
“Republicans will make permanent provisions of the Trump Tax Cuts and Jobs Act that doubled the standard deduction, expanded the child tax credit and promoted economic growth for all Americans,” the 16-page report states. document “We will eliminate the tip tax for millions of restaurant and hospitality workers and pursue additional tax cuts,” Trump's campaign website states.
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